Professional Documents
Culture Documents
ABSTRACT
This paper studies the determinants of voluntary Internet financial reporting (edisclosure) by local public administrations. It presents hypotheses regarding the
relationship between e-disclosure and city size, the issuing of municipal bonds, financial
features, Internet visibility, the level of e-government and diverse political aspects. It
also examines the influence of external factors, such as citizens' income level, their
educational level and their socio-political commitment. The hypotheses were empirically
tested, using a sample of 92 Spanish local public administrations. The data support the
hypotheses, with different levels of robustness, and show that size, political will and
citizens' income level all affect e-disclosure.
KEY WORDS
Local public administrations, Internet financial reporting, e-disclosure, egovernment
*
Corresponding author. Gran Va 2, 50005 Zaragoza, Spain. Telephone: +34 976762157. Fax number:
+34 976 761769. serrano@unizar.es
1. INTRODUCTION
By consulting the websites of companies listed on the Stock Exchange we can
discover, in the majority of cases, how much their President earns, the allowances
received by their directors and other data regarding their finances. Various countries
have adopted legislative measures which require firms to disclose financial information
via the Internet and which promote corporate governance codes. In the case of Spain,
legislation requires firms which are quoted on the Stock Exchange to maintain a website
which includes information for investors. By contrast, a quick glance at the websites of
Spanish local public administrations reveals that many of them do not offer even
minimal budgetary information, and certainly not the mayor's salary, paid for by
citizens. Only in one of the approximately 100 town halls studied do we find complete
financial and non-financial information, including councillors earnings, a clear example
of Do as I say, not as I do. This has motivated us to undertake an analysis of the
financial information available on local public administrations websites and the
circumstances which favour such disclosure.
There can be no doubt about the role played by technologies in the improvement
of the organisation itself and its contribution to the increase in citizens participation in
political decision-making (Moon, 2002). Electronic democracy initiatives such as
participatory budgets, electronic voting or information collection via forums and
citizens blogs permit greater popular participation in the democratic processes. The
Internet offers the possibility of increasing interaction between citizens and the
administration, which is what distinguishes it from the traditional public administration
(Chadwick, 2003).
Recent legislative reforms encourage citizen participation in local public life. In
the case of Europe, the European Committee of Ministers Recommendation 19/2001
established the basic principles of local democratic participation policies. This
recommendation has stimulated the development of various national regulations. In the
case of Spain, Law 57/2003 regarding Measures for the Modernisation of Local
Government and Law 11/2007, which regulates Electronic Access by Citizens to Public
2
administrative management is not limited to the provision of services, but also includes
the preparation of budgets, presenting accounts and establishing links with citizens,
accounting changes explains why Spain has not been able to transform the public sector
as sharply as the UK. The case of Italy is similar, where Fedele and Ongaro (2008)
conclude that, despite devolution, Italian regions have not made their administrative
routines to be more accountable.
The other principal aspect of the debate concerns those factors alleged to affect
disclosure and transparency following devolution. For Fedele and Ongaro (2008)
transparency in regional governments following devolution is apparently influenced by
the organisational capacity of the key organizations involved and by the audit and
evaluation processes employed. The Scottish government administration practiced a
higher degree of disclosure and accountability, such as value-for-money or performance
auditing, while in Italy and Spain regional managerial capacity was reduced and audits
concentrate on compliance with financial regulations.
3. THEORETICAL FRAMEWORK
Many factors, widely studied in accounting research, lead entities to disclose
information (see, for example, Ahmed and Courtis, 1999; Garca-Meca et al, 2005;
Gibbins et al, 1990; Giner-Inchausti, 1997; Healy and Palepu, 2001; Verrecchia, 2001).
For public bodies, a key aspect is the regulation of the public right to access to
information (Gore, 2004; Ingram and DeJong, 1987). Various countries have passed
Freedom of Information Acts (FOIAs) which regulate the right to free access to
information
regarding
public
administrations
and
whose
objectives
include
4. HYPOTHESES
Having reviewed the literature on e-disclosure, we gathered the factors which
lead local public administrations to disclose financial information via the Internet into
three dimensions. The first dimension is the characteristics of the entity, and
corresponds to the first three hypotheses: size (H1), municipal bond (H2) and financial
features (H3). The second represents political aspects and includes the hypotheses
regarding the political situation (H4) and e-government (H5). The remaining hypotheses
10
annual accounts reveal more information we do not expect this to be the case of Spanish
town halls of a certain size. To expect that entities with brilliant statements of accounts
reveal more than those public administrations which are undergoing some type of
financial difficulty would be a manifestation of the lack of democratic maturity within
those Spanish public administrations.
We propose the following hypothesis:
H3: The financial features in local governments is independent of e-disclosure.
11
Winden, 2002). Marche and McNiven (2003, page 75) provide a precise definition,
which includes e-services and e-contents: e-government is the provision of routine
government information and transactions using electronic means, most notably those
using Internet technologies, whether delivered at home, at work, or through public
kiosks.
Firms which have decided strongly in favour of a strategic use of the Internet
disclose more financial information via this medium, as Serrano-Cinca et al (2004) state.
They find that financial entities which provide advanced electronic banking services are
also leaders in e-disclosure. Debreceny et al (2002) find that technology is a determinant
of Internet financial reporting. For Xiao et al (2004), greater familiarity with the Internet
and an interest in being a leader in the employment of new technologies are
circumstances which favour e-disclosure. Politicians are responsible for implementing egovernment actions. Thus, Internet financial reporting requires public administrations to
have sufficient knowledge, political will and technological resources, and those councils
which have implemented more e-government initiatives will tend to disclose more
financial information or, in formal terms:
H5: There is a positive association between e-government and e-disclosure.
12
which calculate the positioning of the website in search engines and also by calculating
the impact of the site upon social networks, such as weblogs. Internet visibility is a key
aspect in e-commerce, since those shops which are most highly visible receive more
visitors, who of course are potential customers (Drze and Zufryden, 2004; Thelwall,
2001).
We believe that Internet visibility may be an explanatory factor with regard to
information disclosure, since local public administrations which make greater use of the
Internet are subjected to greater pressure from Internet users and, in response to such
pressure, are more prone to disclose information on their websites. We propose the
following hypothesis:
H6: There is a positive association between Internet visibility and e-disclosure.
13
5. RESEARCH DESIGN
This section presents the sample used and justifies the variables selected to test
the hypotheses of the empirical study.
5.1. Sample
The hypotheses were tested by a study of Spanish local public administrations.
14
All provincial capitals and all town halls with over 70,000 inhabitants were considered.
The sample employed to test the hypotheses comprises 92 local authorities (Table 1),
and the data from their websites were compiled by the research team in June 2006.
****
Table 1
****
15
(ACC1).
16
the total. INV is the ratio of investment per inhabitant and TAX is the ratio of tax
revenue per inhabitant. The source for this information was the Spanish Ministry for
Public Administration.
To analyse the influence of political aspects upon e-disclosure (Hypothesis 4),
three variables were obtained. The degree of political competition was measured by the
ratio of candidates presented to councillors elected (COMP). The variable COAL
measures coalition situations in the town hall. The value of 1 is assigned to governments
with an absolute majority, 2 to governments who enjoy a relative majority and govern
alone, 3 to a two-party coalition and 4 to a multi-party coalition. The variable POLOR
assigns a score according to the position of the government on the left-right spectrum.
That is to say, 0 indicates a right-wing government with an absolute majority and 8
represents a left-wing government with an absolute majority. Intermediate values
indicate coalitions with centrist or nationalist parties.
Hypothesis 5, regarding e-government, was tested using three variables (eSERV,
eCONT and eDEM). Each of them measure different aspects of the e-government
dimension. The 3 variables were constructed by adding together a set of distinct items.
A count was made of the number of transactions which citizens are able to perform via
the Internet (eSERV), including the services listed in the eEurope 2005 Action Plan, a
project endorsed by the European Council of Ministers and aimed at developing modern
public services. There is a maximum of 18 administrative procedures, which range from
applications for building licences to the obtaining of electoral register enrolment.
E-government offers much more than shorter queues; according to the European
Commission (2005, page 1) the public sector can be made more open and transparent,
delivering governments which are more comprehensible and accountable to citizens,
and thus a checklist was completed of the contents offered on the municipal website
(eCONT). . eCONT measures the general information which town halls supply to
citizens (geographic data and access to the municipality, transport, tourist information,
the weather forecast, etc.), as well as information regarding the internal organisation of
the entity. The checklist was established by Serrano-Cinca et al (2003) and includes 24
highly varied aspects, ranging from weather forecasts to traffic reports.
The variable eDEM measures the number of e-democracy actions implemented.
17
eDEM includes 5 instruments through which citizens may give their opinion or
participate in decision-making, and returns a score between 0 and 5. These instruments
are: forums, a citizens mailbox, online surveys, chat rooms, and experience of
electronic voting.
Hypothesis 6 proposes measuring Internet visibility, as an alternative to press
visibility. Press visibility is usually measured by counting the number of news items
concerning the local authority which appear in the press, as Laswad et al (2005) state. In
the case of the Internet, a visible website is one which receives a large number of
backlinks from other websites. The number of backlinks to a website is an important
factor in the ranking process employed by search engines. The creators of Google, Brin
and Page (1998, page 109), recognize that Academic citation literature has been
applied to the Web, largely by counting citations or backlinks to a given page. This
gives some approximation of a pages importance or quality. An estimation of these
backlinks may be obtained by utilising a special command possessed by some search
engines, and consists of entering linkdomain, followed by the website address (Brock
and Zhou, 2005). We entered this instruction using the MSN search engine (LINKS).
Municipal website visibility in the Blogosphere was also measured, counting the number
of posts on blogs according to the Technorati search engine (POSTS). Only those
comments which include the municipal Internet address were counted, and not those
which merely offered an opinion of the city.
Hypothesis 7 concerns the income level of citizens. Disposable family income
per inhabitant of the council (WEALTH) was selected to measure income level. The
variable was scaled in 10 brackets, on the basis of data provided by the Spanish
Statistics Institute. With regard to the technological level of citizens, reliable data do not
exist in Spain at the municipal level, but only for the region to which the local council
belongs.
Education level and socio-political commitment (Hypothesis 8) was measured by
3 variables. The first is voter turnout at elections (VOTE). The degree of community
involvement was measured by calculating the number of civic associations in the
municipality, divided by the number of inhabitants (ASSOC). The third variable is the
average number of years of education (EDU), calculated as in the work by Barro and
Lee (2001). The data were taken from the annual social report published by the research
18
19
20
the municipal website (POSTS). The differences are also significant. It should be noted
that these two variables do not meet the requirements of normality and non-parametric
tests must be employed.
Turning to Hypothesis 7, Table 4 shows that, on average, residents in cities
which disclose financial information have relatively high incomes (WEALTH). The
differences are statistically significant. With regard to Internet access we have already
stated in the paper that we do believe that this is relevant and important but,
unfortunately, such data are not available in Spain at municipal level. What we are
however able to do is calculate Pearsons correlation coefficient between income level at
the Autonomous Community level and the level of Internet access. The correlation
coefficient displays a high, positive and statistically significant value (0.868). The strong
relation between income and access to the Internet is thereby confirmed; in other words,
and at least in Spain, money matters. Prudence thus dictates the extraction of no further
conclusions.
In the case of education level and socio-political factors, (Hypothesis 8) Table 4
shows that, on average, local authorities which disclose financial information are located
in regions with a high level of community involvement (ASSOC). However, these
differences are not significant. Neither can significant differences be observed with
regard to voter turnout (VOTE), which is slightly higher in the case of town halls least
prone to disclose information. Paradoxes occasionally occur; for example, turnout is
lower in countries in which democracy is longerstanding (Franklin, 2004). The
empirical study finds that the relationship between the average number of years of
education (EDU) and e-disclosure is positive and statistically significant at 1% level.
21
When analysing Table 6, the positive and significant correlation between the
variables of size and e-government via the Internet is striking. One explanation is that
the implementation of services to citizens via the Internet is costly, and thus larger
councils are better equipped to offer the possibility of performing a larger number of
transactions on their websites.
It is only to be expected that there exists a positive correlation among the three
egovernment variables (eDEM, eSERV and eCONT), since town halls which offer
many services online frequently incorporate informational content into their web pages
and are notable for their e-democracy initiatives. This is not always the case, however;
for example, some town halls in tourist areas offer a complete range of information, but
nevertheless scarcely develop the online procedures aspect. Pearsons correlation
coefficient between eDEM and eSERV is 0.22; between eDEM and eCONT it is 0.30;
and between eSERV and eCONT it is 0.69. These values are positive and statistically
significant, but in line with expectations.
Virtual shops use a number of strategies to increase their Internet visibility. One
of them is to offer free content; one example might be a mountain-climbing equipment
shop which edits an online magazine and maintains a forum. Municipal web sites who
offer substantial content also increase their Internet visibility. For instance, those who
have placed online the catalogue of paintings being displayed in the local museum will
increase their Internet visibility. This is why we expect to find a positive correlation
between the variables which measure e-government and those which measure Internet
visibility. Nevertheless, website visibility can also be increased using Search Engine
Optimization (SEO) techniques; these require the website to be redesigned in technical
terms. Table 6 shows that the highest value of Pearsons correlation coefficient between
the variables eSERV and LINKS is 0.4. There is a positive and statistically significant
correlation between Internet visibility and electronic government, but no more than
expected.
It can be observed that EDU (average number of years of education) is related to
the other social variables i.e. ASSOC (the Number of community associations, divided
by the number of inhabitants) and VOTE (Voter turnout), which seems coherent.
Concerning the remaining correlations EDU is related to WEALTH, which likewise is
coherent, since university graduates have higher incomes. From among the variables
22
related to electronic government, the only one which is positively correlated to EDU is
eCONT, which measures the content of the municipal website. No correlation was
detected between EDU and eSERV, which measures the services provided by town halls
via the Internet. Neither was any correlation found between EDU and eDEM, or
electronic democracy. Cities such as Pozuelo, in which the variable EDU attains an
average of 12.57 years, compared to an average of scarcely 8.48 years in other cities.
43% of the residents of Pozuelo, a city on the outskirts of Madrid, are full university
graduates, while the figures for other municipal districts exceed with difficulty 5%.
These figures motivated us to analyse the subject in greater depth.
Although the data indicate that a relation exists between citizens educational
level and e-disclosure, the confidence level is low. Thus, the supply of and demand for
information and municipal services is unbalanced. Katchanovski and La Porte (2005)
coined the term Potemkin E-villages to refer to government webpages which nobody
consults and are little more than an elaborate facade designed to create the impression of
open electronic government. We believe that the opposite effect is more worrying: some
Spanish cities have inhabitants with a high educational level and social commitment, but
whose municipal webpages do not meet the expectations and needs of citizens, since
they do not offer services via the Internet which would no doubt be in high demand. We
believe that these town halls should make an effort to improve their municipal
webpages.
We now attempt to model the factors influencing e-disclosure, employing a
logistic regression. The dependent variable (eDISCL) assigns the value of 1 if the local
council discloses financial information via the Internet and 0 if it does not. Table 7
presents the results of the regression.
****
Table 7
****
Concerning logistic regression, we employed a model selection technique in
order to determine the variables which form part of the model, in an attempt to identify a
parsimonious model. We performed the usual tests for multicollinearity and likewise the
23
7. CONCLUSIONS
More and more, the Internet is the medium chosen by public administrations to
disclose financial information to citizens. The present study proposes hypotheses
regarding the factors which encourage local authorities to report financial information
via the Internet. The hypotheses were tested in an empirical study of Spanish town
councils.
The first group of hypotheses concerns the characteristics of town halls. We
suggest that larger councils, which obtain finance in the financial markets, are more
likely to disclose financial information via the Internet. The data support the hypotheses
proposed. No statistically significant relationship is apparent between e-disclosure and
financial features of the entity.
The second group of hypotheses concerns political aspects. It is found that
24
councils which have made greater efforts to implement e-government are more likely to
disclose financial information via the Internet. There exist indications that political
factors affecting town halls are related to Internet financial reporting, and in particular a
statistically significant association can be observed between the political competition
and e-disclosure.
The third group of hypotheses concerns the local environment. It is found that
local councils whose residents have a high standard of living and have a high education
level disclose more financial information via the Internet.
Laswad et al (2005) find, for New Zealand local governments, that citizens
income level, media pressure and the type of entity influence e-disclosure. Our study
confirms these hypotheses, although media pressure was measured by Internet visibility.
New explanatory hypotheses at the level of e-government and e-democracy have been
added. Styles and Tennyson (2007) examine the accessibility of local government
financial reports on the Internet for a sample of US municipalities of varying size. The
accessibility of the data is positively related to both the number of residents and
residents income per capita. Municipalities in a poorer financial position provided less
convenient access to town hall financial data on the Internet, which indicates the
continued influence of debt markets on public sector financial reporting. Our study
found no relation between financial position and e-disclosure. We also confirm that
municipality size, citizens economic level and the existence of municipal bonds affect
the publication of financial data online.
E-disclosure was modelled using logistic regression, which included as
explanatory factors size (measured by the number of inhabitants), political will
(measured by councils experience with e-democracy) and the local standard of living
(measured by citizens' per capita income).
Finally, it must be emphasised that the level of e-disclosure in Spanish local
administrations is still very low. The present study shows that the largest councils
disclose most information, but to report information on a website is neither especially
costly nor complicated. Traditionally, it has been expensive to disclose accounting
information, but the Internet provides an economical channel to do so. We must
recognise that many adolescents have blogs whose content is greater than that of the
25
26
REFERENCES
Adams C, Hill WY, Roberts CB, 1998, Corporate social reporting practices in western
Europe: legitimating corporate behaviour? The British Accounting Review 30(1) 1-21
Ahmed K, Courtis JK, 1999, Associations between corporate characteristics and disclosure
levels in annual reports: a meta analysis, British Accounting Review 31 35-61
Ashbaugh H, Johnstone KM, Warfield TD, 1999, Corporate Reporting on the Internet,
Accounting Horizons 13 241-257
Baber WR, 1983, Towards understanding the role of auditing in the public sector, Journal
of Accounting and Economics 5(3) 213-227
Baber WR, 1994, The influence of political competition on governmental reporting and
auditing, Research in Governmental and Nonprofit Accounting 8. 109-127
Baber WR, Sen PK, 1984, The role of generally accepted reporting methods in the public
sector: An empirical test, Journal of Accounting and Public Policy 3(2) 91-106
Baber WR, Sen PK, 1986, The political process and the use of debt financing by state
governments, Public Choice 48 (3) 201-215
Baber, WR, Gore, AK, 2006, Consequences of GGAP reporting requirements: evidence
from municipal debt issues, WP, University of Oregon
Banker RD, Patton JM, 1987, Analytical agency theory and municipal accounting: an
introduction and an application, Research in Governmental and Nonprofit Accounting
3(B). 29-50
Barro R J, Lee J W, 2001, International data on educational attainment: updates and
implications Oxford Economic Papers 53 541-563
Behn RD, 2003, Why measure performance? Different purposes require different
measures, Public Administration Review 63(5) 586-606
Brin S, Page L, 1998, The anatomy of a large-scale hypertextual Web search engine,
Computer Networks and ISDN Systems 30(1-7) 107-117
Brock JKU, Zhou Y, 2005, Organizational use of the Internet: Scale development and
validation, Internet Research 15(1) 67-87
Brown D, 2005, Electronic government and public administration International Review of
Administrative Sciences 71(2) 241-254
27
28
from
http://europa.eu.int/information_society/eeurope/2005/all_about/egovernment/index_e
n.htm.
Evans D, Yen C D, 2005, E-government: an analysis of implementation: Framework for
understanding cultural and social impact Government Information Quarterly 22(3)
354-373
Evans JH, Patton JM, 1987, Signalling and monitoring in public-sector accounting
disclosure, Journal of Accounting and Public Policy 8(3) 199-217
Everingham J-A, Cheshire L, Lawrence G, 2006, "Regional renaissance? New forms of
governance in nonmetropolitan Australia" Environment and Planning C: Government
and Policy 24(1) 139155
Ezzamel M, Hyndman N S, Johnsen , Lapsley I, Pallot J, 2004, Has Devolution Increased
Democratic Accountability? Public Money and Management 24(3) 145152
Fedele P, Ongaro E, 2008, A Common Trend, Different Houses: Devolution in Italy, Spain
and the UK Public Money and Management 28(2) 8592
Franklin MN, 2004, Voter Turnout and the Dynamics of Electoral Competition in
Established Democracies Since 1945. Cambridge: Cambridge University Press.
Garca-Meca E, Parra I, Larrn M, Martnez I, 2005, The explanatory factors of intellectual
capital disclosure to financial analysts, European Accounting Review 14(1) 6394
Gibbins M, Richardson A, Waterhouse J, 1990, The management of corporate financial
disclosure: opportunism, ritualism, policies and processes, Journal of Accounting
Research 28(1) 121-143
Giner Inchausti B, 1997, The influence of company characteristics and accounting
regulation on information disclosed by Spanish firms, European Accounting Review
6(1) 45-68
Giroux G, 1989, Political interests and governmental accounting disclosure, Journal of
Accounting and Public Policy 8(3) 199217
Gore AK, 2004, The effects of GAAP regulation and bond market interaction on local
government disclosure, Journal of Accounting and Public Policy 23(1) 23-52
29
Healy PM, Palepu KG, 2001, Information asymmetry, corporate disclosure, and the capital
markets: a review of the empirical disclosure literature, Journal of Accounting and
Economics 31(1-3) 405-440
Ho AT, 2002, Reinventing local governments and the e-Government initiative, Public
Administration Review 62(4) 410-420
Ingram RW, 1984, Economic incentives and the choice of state government accounting
practices, Journal of Accounting Research 22 (1) 126-144
Ingram RW, Copeland RM, 1981, Municipal accounting information and voting
behaviour, The Accounting Review 56(4) 830-843
Ingram RW, DeJong DV, 1987, The effect of regulation on local government disclosure
practices, Journal of Accounting and Public Policy 6(4) 245270
Ingram RW, Robbins WA, 1988, Financial reporting practices of local governments: an
overview, Government Finance Review, April, pp. 17-21
Jones MJ, Xiao JZ, 2004, Financial reporting on the Internet by 2010: a consensus view,
Accounting Forum 28(3) 237-263
Katchanovski I, La Porte T, 2005, Cyberdemocracy or Potemkin E-Villages? Electronic
Governments in OECD and Post-Communist Countries International Journal of
Public Administration 28(7/8) 665-681
Kim P S, Halligan J, Cho N, Oh C H, Eikenberry A M, 2005, "Toward Participatory and
Transparent Governance: Report on the Sixth Global Forum on Reinventing
Government" Public Administration Review 65(6) 646654
King J, 2006, Democracy in the Information Age Australian Journal of Public
Administration 65(2) 16-32
Kleinbaum D G, Kupper L L, Muller K E, 1988 Applied Regression Analysis and other
Multivariate Analysis Methods (PWS-Kent Publishing Company, Boston, MA)
Larrn M, Giner B, 2002, The use of Internet for corporate reporting by Spanish
companies, The International Journal of Digital Accounting Research 2(1) 53-82
Laswad F, Fisher R, Oyelere P, 2005, Determinants of voluntary Internet financial reporting
by local government authorities, Journal of Accounting and Public Policy 24(2) 101121
Layne K, Lee J, 2001, Developing fully functional e-government: a four stage model,
Government Information Quarterly 18(2) 122-136
30
Leftwich RW, Watts RL, Zimmerman JL, 1981, Voluntary corporate disclosure: the case of
interim reporting, Journal of Accounting Research, 19 supplement 50-77
Lim S, McKinnon J, 2003, Voluntary disclosure by NSW statutory authorities: the influence
of political visibility, Journal of Accounting and Public Policy 12(3) 189-216
Lymer A, 1999, The Internet and the future of corporate reporting in Europe, The
European Accounting Review 8 289-302
Magann J, 1983, Municipal financial disclosure: an empirical investigation, Research for
Business Decisions, 58, UMI Research Press
Magness V, 2006, Strategic posture, financial performance and environmental disclosure.
An empirical test of legitimacy theory, Accounting, Auditing & Accountability
Journal 19(4) 540-563
Marche S, McNiven JD, 2003, E-government and e-governance: The future isn't what it
used to be, Canadian Journal of Administrative Sciences 20(1) 74-86
McNeal R, Schmeida M, Hale K, 2007, E-disclosure laws and electronic campaign finance
reform: Lessons from the diffusion of e-government policies in the States
Government Information Quarterly 24(2) 312-325
Meijer AJ, 2007, Publishing public performance results on the Internet: do stakeholders use
the Internet to hold Dutch public service organizations to account? Government
Information Quarterly 24(1) 165-185
Moon M J, 2002, The Evolution of E-government among municipalities: Rhetoric or
Reality? Public Administration Review 62(4) 424-433
Neu D, Warsame H, Pedwell K, 1998, Managing public impressions: environmental
disclosure in annual reports, Accounting, Organizations and Society 23 265-288
Norris DF, Moon MJ, 2005, Advancing E-Government at the grassroots: tortoise or hare?
Public Administration Review 65(1) 64-75
Organisation for Economic Co-operation and Development (OECD), 2003, The egovernment imperative: main findings, OECD e-Government Studies, Paris,
http://www.oecd.org/dataoecd/60/60/2502539.pdf
Patten DM, 1991, Exposure, legitimacy, and social disclosure, Journal of Accounting and
Public Policy 10 297-308
Patten DM, 1992, Intra-industry environmental disclosures in response to the Alaskan oil
spill: a note on legitimacy theory, Accounting, Organizations and Society 17 471-475
31
32
Thelwall M, 2001, Commercial Web Site Links, Internet Research 11(2) 114-124
Torres L, Pina V, 2004, Reshaping the Public Administration: the Spanish Experience
Compared to the UK Public Administration 82(2) 445-464
Torres L, Pina V, Acerete B, 2005, E-government developments on delivering public
services among EU cities, Government Information Quarterly 22(2) 217-238
Turle M, Hordern V, 2005, Introduction to Freedom of Information Act, Computer Law &
Security Report 21(5) 415-419
van den Berg L, van Winden W, 2002, "Should cities help their citizens to adopt ICTs? On
ICT adoption policies in European cities" Environment and Planning C: Government
and Policy 20(2) 263-279
Verrecchia RE, 2001, Essays on disclosure, Journal of Accounting and Economics 32(1-3)
97-180
Wang H, Rubin B L, 2004, Embedding e-finance in e-government: a new e-government
framework Electronic Government, an International Journal 1(4) 362-373
West DM, 2000, Assessing e-government: the Internet, democracy, and service delivery by
state and federal governments. Providence, RI: Taubman Center for Public Policy,
Brown University.
Woodward DG, Edwards P, Birkin F, 1996, Organizational legitimacy and stakeholder
information provision, British Journal of Management 7 329-347
Xiao Z, Yang H, Chow C, 2004, Patterns and determinants of Internet-based corporate
disclosure in China, Journal of Accounting and Public Policy, 23(3) 191-225
Zimmerman JL, 1977, The municipal accounting maze: an analysis of political incentives,
Journal of Accounting Research 15, Suppl., 107-144
33
Municipality
Albacete
Alcal de Henares
Alcobendas
Website
albacete.com
ayto-alcaladehenares.es
alcobendas.org
Municipality Website
Getxo getxo.net
Gijn ayto-gijon.es
Girona ajuntament.gi
Municipality Website
Pozuelo de Alarcn ayto-pozuelo.es
Puerto Sta Mara
Reus
Alcorcn
ayto-alcorcon.es
Granada granada.org
Algeciras
ayto-algeciras.es
Guadalajara guadalajara.es
Alicante
alicante-ayto.es
Almera
aytoalmeria.es
Huelva ayuntamientohuelva.es
San Fernando
aytosanfernando.org
vila
ayuntavila.com
Huesca ayuntamientohuesca.es
San Sebastin
donostia.org
Avils
ayto-aviles.es
Jan aytojaen.es
Badajoz
aytobadajoz.es
Jerez webjerez.com
Badalona
aj-badalona.es
Baracaldo
barakaldo.org
Barcelona
bcn.es
Bilbao
Burgos
Cceres
Cdiz
Cartagena
Castelln
bilbao.net
Hospitalet
l-h.es
Legans leganes.org
Len aytoleon.com
Lorca ayuntalorca.es
Lugo concellodelugo.org
Santander
Sevilla
Soria
Madrid munimadrid.es
Talavera
ayto-cartagena.com
Mlaga ayto-malaga.es
Tarragona
ayuncas.es
Marbella marbella.es
Matar mataro.org
Melilla camelilla.es
Cornell
cornellaweb.com
Murcia ayto-murcia.es
Corua
aytolacoruna.es
Coslada
ayto-coslada.es
cuenca.org
Ourense ourense.es
Oviedo ayto-oviedo.es
Palencia palencia.com
doshermanas.es
Elche
ayto-elche.es
Ferrol
ferrol-concello.es
ayto-fuenlabrada.es
ayto-getafe.org
Pamplona pamplona.net
Parla ayuntamientoparla.es
Pontevedra concellopontevedra.es
sabadell.net
aytosalamanca.es
aytolalaguna.com
stboi.es
grame.net
cadizayto.es
Mstoles ayto-mostoles.es
34
Sta C Gramenet
Segovia
ayuncordoba.es
Getafe
Sant Boi
Logroo logro-o.org
Crdoba
Fuenlabrada
San C de La Laguna
Santiago
ayto-caceres.es
Ceuta ciceuta.es
Cuenca
Salamanca
Lrida paeria.es
aytoburgos.es
Dos Hermanas
Sabadell
elpuertosm.es
reus.net
Telde
Terrassa
ayto-santander.es
santiagodecompostela.org
segovia.es
sevilla.org
ayto-soria.org
talavera.org
ajtarragona.es
ayuntamientodetelde.org
terrassa.org
Teruel
teruel.net
Toledo
ayto-toledo.org
Torrejn de Ardoz
ayto-torrejon.es
Torrevieja
Valencia
Valladolid
Vigo
Vitoria-Gasteiz
Zamora
Zaragoza
ayto.torrevieja.infoville.net
valencia.es
ava.es
vigo.org
vitoria-gasteiz.org
ayto-zamora.org
ayto-zaragoza.es
N (%)
49 (53.26%)
47 (51,08%)
33 (35.86%)
36 (39.13%)
26 (28.26%)
12 (13.04%)
1 (1.08%)
1 (1.08%)
0 (0%)
2 (2.17%)
Table 2. Financial variables and number (percentage) of councils which disclose such
information.
35
Variable
H1. Size
Definition
POPUL
REVEN
Budget revenue
H2. Listed
BOND
H3. Financial
features
INV
TAX
SELF
H4. Political
H6. Internet
visibility
H7. Income level
of citizens
H8. Sociopolitical,
education
FINANC
OPERAT
COMP
COAL
Coalition government.
POLOR
H5. e-government
eDEM
eCONT
eSERV
LINKS
POSTS
WEALTH
VOTE
ASSOC
EDU
Table 3. Variables employed for the hypothesis testing and their definition
36
PRES
H3
INV
TAX
SELF
FINANC
OPERAT
H4
COMP
COAL
POLOR
H5
eDEM
eSERV
eCONT
H6
LINKS
POSTS
H7
WEALTH
H8
VOTE
ASSOC
EDU
Councils (n=92)
No disclosure
(n=43)
Disclosure (n=49)
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
217,874
134,515
363,609
197,841,045
119,791,865
398,768,375
200.48
178.06
120,407
94,967
54,616
103,251,661
84,136,209
59,622,273
195.48
173.68
303,405
156,592
481,730
280,848,055
153,172,000
532,267,710
204.88
199.63
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
Mean
Median
Std Dev.
133.00
440.45
398.88
198.81
0.613
0.625
0.090
0.025
0.023
0.012
0.732
0.727
0.090
0.299
0.296
0.073
0.978
0
1.138
3.446
3
3.232
0.99
1
0.932
35.17
32
21.85
26.77
27
7.42
3,472
2,086
6,242
10.08
7
10.55
5.85
6
1.96
62.94
64
5.94
5.88
5
4.72
10.17
10.22
0.75
143.72
445.74
403.89
218.69
0.625
0.634
0.085
0.023
0.021
0.012
0.742
0.732
0.087
0.282
0.286
0.063
1
0
1.234
3.163
2
3.154
0.77
1
0.895
26.44
23
15.92
24.04
25
6.42
2,232
1,334
2,527
7.65
6
7.90
5.30
5
1.75
63.08
63.8
5.82
5.44
4.65
3.52
10.02
9.99
0.77
124.18
435.81
394.92
181.78
0.603
0.613
0.094
0.026
0.025
0.012
0.723
0.727
0.092
0.315
0.327
0.079
0.959
0
1.059
3.693
5
3.311
1.18
1
0.928
42.84
35
23.56
29.16
29
7.48
4,559
2,296
8,105
12.22
8
12.11
6.35
7
2.03
62.83
62.94
6.09
6.29
4.89
5.60
10.30
10.33
0.74
Test of means
MannANOVA
Whitney U
F (Sig.)
(Sig.)
6.127
(0.015)
624
(0.000)
4.728
(0.032)
602
(0.000)
0.113
(0.737)
978
(0.554)
0.056
(0.812)
1,019
(0.787)
1.334
(0.251)
934
(0.350)
1.078
(0.302)
858
(0.126)
0.950
(0.332)
973
(0.529)
4.885
(0.029)
785
(0.035)
0.029
(0.865)
1049
(0.972)
0.616
(0.435)
937
(0.349)
4.760
(0.032)
779
(0.023)
14.851
(0.000)
566.5
(0.000)
12.213
(0.000)
674.5
(0.003)
3.261
(0.074)
755
(0.019)
4.463
(0.037)
795.5
(0.043)
6.895
(0.010)
732
(0.011)
0.036
(0.848)
1,038
(0.903)
0.726
(0.396)
993
(0.756)
3.340
(0.071)
1754
(0.055)
37
H2
No
disclosure
Disclosure
Total
Pearson Chi-Square
BOND
11
12
8.177 (0.004)
Non-BOND
42
38
80
Total
43
49
92
38
WEALTH
POLOR
OPERAT
.02
.22*
-.06
-.08
.04
.47**
.40**
.56**
.12
.19
.05
.53**
.12
.24*
.22*
.32**
-.04
-.10
.01
.62**
.47**
.50**
.42**
.01
-.13
.18
.02
.09
.05
-.19
.13
-.05
.22*
-.03
-.07
.03
.42**
.37**
.59**
.09
.24*
.07
.52**
.13
.18
.13
-.30**
.12
-.01
.43**
-.03
-.15
.08
.53**
.40**
.53**
.42**
.11
-.01
.22*
.13
.60**
.06
-.42**
-.75**
.19
.05
-.17
.02
-.20
-.16
.04
-.07
.27**
.23*
.07
.15
.39**
.00
-.41**
-.85**
.14
.05
-.11
.00
-.17
-.11
-.07
-.09
.36**
.33**
.08
.32**
.47**
-.07
-.12
.15
-.07
-.08
.08
-.13
-.10
.09
-.02
.10
-.01
.08
-.01
.57**
.03
-.17
.07
-.02
-.04
.11
-.08
.01
.10
.03
.23*
.15
.17
.31**
.07
-.04
-.10
-.18
.04
.06
-.23*
-.10
-.19
-.27**
-.05
-.02
.16
.01
.02
-.05
-.06
-.20
.00
.10
-.21*
-.10
-.03
-.16
-.01
.00
.16
.07
.45**
.09
.10
.15
-.03
.16
.05
.15
-.13
-.09
-.14
.03
-.11
.38**
.09
.10
.16
.04
.21*
.05
.15
-.03
-.10
-.17
.08
-.13
-.08
-.06
-.01
-.04
.16
.07
-.02
.13
-.22*
-.29**
-.07
-.24*
-.05
-.08
-.07
.00
.16
.08
.14
.17
-.26*
-.33**
-.10
-.31**
.13
-.09
.05
.20
.21*
.26*
.21*
.28**
.03
.19
.17
.16
-.03
.08
.24*
.14
.27**
.22*
.28**
.01
.17
.17
INV
COMP
COAL
POLOR
eDEM
eSERV
eCONT
LINKS
POSTS
.16
-.37**
eSERV
-.22*
-.23*
eDEM
-.05
-.21*
COAL
-.02
.84**
COMP
.99**
SELF
TAX
EDU
OPERAT
ASSOC
FINANC
VOTE
SELF
LINKS
TAX
eCONT
INV
PRES
PRES
POPUL
POPUL
FINANC
.51**
.11
.18
.10
.13
.27**
.28**
-.01
-.29**
-.04
.57**
.09
.18
.13
-.02
.25*
.26*
-.03
-.33**
-.06
.03
.16
.11
.09
.11
.08
-.16
-.24*
-.22*
.01
.12
.06
-.04
.11
.10
-.16
-.21*
-.21*
.22*
.30**
.07
.20
.02
.13
.17
.13
.23*
.27**
.24*
.34**
.05
.12
.21*
.16
.69**
.40**
.31**
.19
-.09
.11
.03
.67**
.47**
.42**
.22*
-.13
-.04
.07
.34**
.32**
.35**
.15
.24*
.21*
.40**
.36**
.36**
.16
.08
.22*
.28**
.29**
-.05
.02
.11
.50**
.18
-.13
.08
.12
.19
-.05
-.02
.16
.10
-.11
-.02
.10
.41**
.14
.44**
.39**
-.02
.41**
.39**
.58**
.44**
.59**
.46**
.49**
POSTS
WEALTH
VOTE
ASSOC
EDU
39
Expected sign
Constant
Coefficient
Wald
Significance
-19.417
12.964
0.000
LnPOPUL
1.441
10.861
0.001
WEALTH
0.340
6.494
0.011
eDEM
0.555
4.314
0.038
Note: N=92 cases; -2 Log likelihood = 101.200; Nagelkerke R2 = 0.328; Chi square =
25.947; significance of Chi square =0.000
Correctly predicted percentage. NonREV=67.4 REV= 77.6; overall=72.8
40
DOCUMENTOS DE TRABAJO
Facultad de Ciencias Econmicas y Empresariales
Universidad de Zaragoza
41
2003-08: The investment activity of spanish firms with tangible and intangible
assets. Manuel Espitia and Gema Pastor. Department of Business, University of
Zaragoza.
2004-01: Persistencia en la performance de los fondos de inversin espaoles de
renta variable nacional (1994-2002). Luis Ferruz y Mara S. Vargas. Departamento de
Contabilidad y Finanzas, Universidad de Zaragoza.
2004-02: Calidad institucional y factores poltico-culturales: un panorama
internacional por niveles de renta. Jos Aixal, Gema Fabro y Blanca Simn.
Departamento de Estructura, Historia Econmica y Economa Pblica, Universidad de
Zaragoza.
2004-03: La utilizacin de las nuevas tecnologas en la contratacin pblica. Jos
M Gimeno Feli. Departamento de Derecho Pblico, Universidad de Zaragoza.
2004-04: Valoracin econmica y financiera de los trasvases previstos en el Plan
Hidrolgico Nacional espaol. Pedro Arrojo Agudo. Departamento de Anlisis
Econmico, Universidad de Zaragoza. Laura Snchez Gallardo. Fundacin Nueva
Cultura del Agua.
2004-05: Impacto de las tecnologas de la informacin en la productividad de las
empresas espaolas. Carmen Galve Gorriz y Ana Gargallo Castel. Departamento de
Economa y Direccin de Empresas. Universidad de Zaragoza.
2004-06: National and International Income Dispersin and Aggregate
Expenditures. Carmen Fillat. Department of Applied Economics and Economic
History, University of Zaragoza. Joseph Francois. Tinbergen Institute Rotterdam and
Center for Economic Policy Resarch-CEPR.
2004-07: Targeted Advertising with Vertically Differentiated Products. Lola
Esteban and Jos M. Hernndez. Department of Economic Analysis. University of
Zaragoza.
2004-08: Returns to education and to experience within the EU: are there differences
between wage earners and the self-employed?. Inmaculada Garca Mainar. Department
of Economic Analysis. University of Zaragoza. Vctor M. Montuenga Gmez.
Department of Business. University of La Rioja
2005-01: E-government and the transformation of public administrations in EU
countries: Beyond NPM or just a second wave of reforms?. Lourdes Torres, Vicente
Pina and Sonia Royo. Department of Accounting and Finance.University of Zaragoza
2005-02: Externalidades tecnolgicas internacionales y productividad de la
manufactura: un anlisis sectorial. Carmen Lpez Pueyo, Jaime Sanau y Sara
Barcenilla. Departamento de Economa Aplicada. Universidad de Zaragoza.
2005-03: Detecting Determinism Using Recurrence Quantification Analysis: Three
Test Procedures. Mara Teresa Aparicio, Eduardo Fernndez Pozo and Dulce Saura.
Department of Economic Analysis. University of Zaragoza.
42
43
44